Bonds

[izzyscout21]

Guys, I've got a few savings bonds that have been sitting around for the past 10-15 years. Thing is, I don't know what to do with them. I've been tossing around the idea of cashing them in before the market falls out from under me. Any ideas?

[LUNCHBOX]

You may have just decided. Paper or preps? I know what I would do.

[piranha2]

Are they the ten year ones? EEs?

[izzyscout21]

Are they the ten year ones? EEs?

they are EE's

[piranha2]

They max out at 10 years. if its been that long, either cash them and buy me something or cash them and buy new ones. No more interest after 10 years. JK of course.

[LUNCHBOX]

I would look at it this way....if they have matured then you have got all you can from them, on the other hand, do you want to wait and see if your able to cash them in later. I'm not telling anyone to give up on your hope for a retirement or cashing in on any money coming due but things are not improving in my eyes. Its anybodies guess.

[izzyscout21]

They are actually the remnants of my college fund. There's only about $450 worth of bonds. I was going to cash them out and split them between my kids' savings accounts. I decided however, to go ahead and cash them out and put the cash in their piggy bank at home. Just until all the debt crap settles down. I'll put the money in their savings after i feel a little more confident about the financial mess.

[piranha2]

Good plan. CYA

[bobthe]

They max out at 10 years. if its been that long, either cash them and buy me something or cash them and buy new ones. No more interest after 10 years. JK of course.

i joined this site just to give a warning to others:

watch what advice you take on the net.

EE bonds are essentially as good as cash. you might not be able to use one to buy a roll of tp at 3am at walmart, but unless you dont have any cash you can access and the bonds are your only source of funds, there is no need to cash them in. they can be cashed in at just about any bank in the country. walk in, sign the bond, walk out with $$$ (up to certain limits per transaction). But here is the big thing. a bond bought 10 years ago would give a 5+ percent yield. as opposed to sub percent yield on a savings account or a 1.5% yield on a bond bought today. while it wont make you rich, 5% is better than you will get out of most anything today, and certainly better than anything you would get thats 100% backed by uncle sam and just as good as cash.

Had you tucked them in a drawer and forgot about them till your kids are college age, they would have been worth about 1500$. again, wont make you rich, but a better return by far than anything you are likely to get these days that isnt risky as all get out/

[realist]

I have a bunch that I am going to cash in and buy some more silver. Remember that when you cash them in and just put the money in the bank you have to pay the IRS what it due.

[TroubleShooter]

You guys do what you want...........But I will tell you, any thing consumable is the best investment.....IMO engine oil by the gallon is the best investment going.
Take your $500- or whatever and go to the local supplier and buy a large amount....keep tabs on walmart pricing, offer it in a local paper or go to a shop, $1 under walmart.

In my case , I have the ability to move alot,couple weeks ago, I bought 300 gallon at 9.99 a gallon, I have sold most of it at 12.25 to 14.50 a gallon.....and it doesn't go down, will only increase...Next month you might be able to buy oil at 15.25 a gallon and a month later be selling it at $21 a gallon...

Sure bulk can be had somewhat cheaper but handling and no seal becomes issue for flipping it, I will not buy anything bulk from someone unless I know them, whereas I will buy sealed gallon jugs if the price is right all day long...Brand does not matter right now....

Look around there is something in your area that ppl are buying everyday....

Even if you buy a year's supply of gas for your car right now, the return on your money will be greater than any bank investment today.

Tires are becoming pricy and the used tire market is climbing rapidly.....

Just a few thoughts.............I have many, some even scare me

[bobthe]

Even if you buy a year's supply of gas for your car right now, the return on your money will be greater than any bank investment today.


gas right now? the time to buy gas is right before the summer driving season. the price of gas always drops through the winter. furthermore if economists fears of a double dip recession turn out, gas could be half what it is now this time next year. the only reason to buy gas today is if you think the economy is about to take off.

[faster]

I disagree. Gas is very likely to go up, the issue is, keeping it from turnng into varnish, drawing moisture, etc, until you can sell it.